Ecommerce Sales Waning, Despite Achieving Record High in 2022

By Jeff Melton

At the tail end of 2022, ecommerce sales hit a record high of $299.12 billion. Many hail last year’s 7.7% growth as a triumph, but it’s actually the slowest growth rate observed since 2009, falling short of the double-digit numbers we’ve seen over the past 5 years. 

Despite the perceived win, it’s now more critical than ever to optimize your digital experiences and ensure optimal performance. Retailers must continuously conduct customer research, identify areas of friction, and orchestrate competitor analysis to deliver top-notch customer experience.

Formulate a Strategy to Increase Conversion and Optimize Customer Experience

To develop a comprehensive conversion and experience optimization plan, collaborate with a cross-section of business stakeholders, including marketing, user experience, analytics, merchandising, and development teams. With all participants, establish your foundational practices as follows:

  • Conduct research and data analysis of your current website performance to reveal which strategies are working and which aren’t. Use this information to inform your next plan of action.
  • Identify areas of opportunity for quick wins to capitalize on more revenue without delay. Prioritize your strategy according to the information gathered from your data analysis, and you should begin to see positive results rapidly.
  • Develop a test plan allowing you to execute your strategy on schedule. This also increases transparency in your optimization plan.
  • Document your wins and losses, forecasting the experience adjustments that impact conversion and revenue. You’ll be amazed at the results you can glean from this process.

Optimizing your website to facilitate high conversion rates is a fundamental aspect of any sound ecommerce strategy; however, it’s also one of the most complex operations to run. Retailers often struggle to gather the right resources for conducting research, running tests, and formulating strategies. 

Sophelle has over 20 years of valuable ecommerce optimization experience and is ready to be your partner throughout the optimization journey. We’re prepared to help retailers build a prioritized, strategic plan to enhance performance immediately.

If you’re ready to optimize your customer experience and conversion, learn how Sophelle can help. Let’s start a conversation today.